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Breakingviews: Obama’s capital misallocation

Sept. 20 - Breakingviews columnists don their activist investor hats to examine how the American president has been spending too much time and energy on the wrong issues.

TRANSCRIPT +

So we decided -- being activist investors today -- -- not. Looking at a company was looking at a much government of the organization the united states of America -- leader. President Barack Obama is doing -- And you that'd be -- of this piece of see that -- Washington colleague Dan in to begin his take off but yeah we've done is affect what he says it's that he looked over the past twelve months of where the -- the president has. I agree with that political candidate concedes there is with saying okay this political capital is -- quite the same residential capital its multitude time effort striking deals and -- so orbit. The extent that comes out in the news services. It is in speeches at the -- has low so we then looked at three things Google news. The -- has Logan you know Obama's speeches and such as keywords in the in the whole bunch of different policy areas kind of figure out where a bomber is spending his. Political capital and we've we came to view you know we have a financial by -- -- a bit -- and the view that. It's you -- -- -- -- that there -- -- -- and look at what the biggest issue is countries facing is the budget talks budget deficit. And that's a couple 6% of his time was that writes that he made a big -- Yes 6% of the of the effort at least ahead by this slightly unscientific middle and came -- with. On fiscal and deficit problems when. You know I think we would say that's going to be one of the couple of bacon over the economy which is related to one of the one of the big things of course -- spending on fifteen percentage of that Obama's time spent on -- and price at least getting some weapons sites that we don't think that's enough. That's probably not enough even in just that area but if you combine it with the fiscal stuff which has a big economic impact to probably behind especially when you consider. That top area. By a little over at jobs and the economy has been defense and security. Now there's been a lot of talk of course about Syria and all of that and a that's like excuse this perhaps but it. You know that doesn't seem like actually it's it's the it's not the biggest problem Obama. Is not based on the big take ups takes a look at some off the dust -- presidents being commander in chief as well but we for the song on the coming Garcia -- mean. -- second and maybe spend twenty Thompson -- time jobs and grace and more deficit. Assessing fed you I mean is it worth the president doing that well they can be fighting freaks -- time that we obviously -- -- Handling of the economy that may check -- and white people -- protect the president. But it's not an area when they have a huge amount of power Sapient spin your wheels an awful lot. If you look he's yet -- presidents have -- bombs than to actually drop money that's been an extra votes yes. -- what -- be hoping he's in Israel -- he's not we can read an article we want him to this but what we. What we do and we've we've got we will also point 5% over time all the time on the company that ball. Well I think I think the fiscal side is is probably going to become. The place ways that gonna dispense camp and I would talk about this debt ceiling fight. The bomber has said in -- quite rationally like you guys have authorized the spending we know and it paid the bills and I'm not gonna. Negotiate about that this is gonna become. -- undermine this is important because you don't want the markets rattled which could content connector on the economy you don't want that that's the scene we have a couple of years ago. I think I think that's going to be coming up if -- the activists gentler in President Obama. That's so anyway what effect has now and other congresses is is back I think that's for whoever they think. Thanks Richard thanks Chris if you must but it looks -- -- -- and we've been so you know is on our web site. That's it must now -- back next week it will breaking news.

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